Used primarily in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, it serves as a key intermediate for creating complex organic molecules. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it is employed in material science for designing advanced polymers and coatings. Its ability to interact with diols also makes it useful in biochemical applications, such as sensor development for detecting sugars or other diol-containing compounds.